Good evening. It is my pleasure to join all of you here at the HK4As Kam Fan Awards Presentation Gala this evening.

"Advertising is the life of trade", said the former President of the United States Calvin Coolidge in 1926 when he addressed the American Association of Advertising Agencies. In making this remark, President Coolidge referred to the influence played by advertising in changing the habits and modes of life, affecting what the Americans ate, wore, and played at that time. His remark is as relevant today as it was nearly 90 years ago. In the 21st century where mass production is made possible, advertising is still a potent force that creates the necessary mass demand. Look at your smartphones and tablets. I am sure word of mouth alone is not sufficient to convince you to dig into your pockets. The advertising campaigns launched by the respective brands on television, outdoor billboards and social media have certainly influenced your decision to spend. This is the power of advertising. And we are here this evening to honour the bright advertising talents of Hong Kong and to recognise their creativity.

First held in 1984, the Kam Fan Awards are bestowed to the best works in the advertising industry. It has grown into one of the most prominent advertising awards in Asia. I am particularly impressed by the theme of the Kam Fan Awards this year, "Don't let excuses get in the way", which echoes the can-do spirit of Hong Kong people that has characterised the development and contributed to the success of our society throughout the decades. The slogan also reflects the attitudes held by the highly professional practitioners of our advertising industry. With their passion and creativity, Hong Kong has proudly established its position as an advertising hub in Asia.

Today, Hong Kong's advertising talents are a power to reckon with internationally. This year, Hong Kong advertisers have scooped 43 awards in three renowned international advertising awards, namely AdFest, Cannes Lions and Spikes, bearing evidence on the world-class qualities of Hong Kong's advertising industry.

Indeed the advertising industry is an important part of Hong Kong's creative industries. The sophistication of our advertising market has attracted a strong presence of multinational advertising agencies and a critical pool of talents. The majority of these multinational agencies have set up their regional headquarters in Hong Kong to look after the regional business as well. According to the latest available figures, the advertising industry contributed to GDP of over $7 billion and employed some 17 600 persons in 2011. In terms of the total share of cultural and creative industries, advertising alone accounted for 8 per cent of the GDP and 9.1 per cent of the employment. Total advertising spending reached a record $40 billion in 2012.

The HKSAR Government is keen to support the further development of the advertising industry. It is of utmost importance that our outstanding talents gain more international exposure and broaden their horizons. Our Create Hong Kong office has so far provided sponsorship for over 30 Kam Fan award winners to participate in major international advertising festivals and competitions.

We are also aware that online and mobile advertising has been gaining impetus with an increasing number of people spending more time on the digital platforms. To help the industry meet the manpower needs, we have provided funding support to an initiative which provides graduates in digital advertising and related disciplines with one-year full-time employment to gain on-the-job training and working experience.

We obtained in May this year the approval of the Legislative Council for injecting another $300 million into the CreateSmart Initiative, the funding scheme which supports the development of creative industries and the two initiatives that I have just mentioned. I would like to encourage the trade to come up with meaningful projects that can help your sector grow and develop. The Government will offer the necessary funding support.

We will continue to spare no efforts in supporting the advertising sector and the creative industries at large. We are committed to nurturing creative talents, facilitating overseas promotion and celebrating excellence of the cream of the cream.

Last but not least, I would like to congratulate all the award winners tonight. I am sure you will continue to contribute to the development of our advertising sector. I wish you all every success in your future creative endeavours.